American Opportunity Foundation
- Assets
- $2.3m
- Revenue
- $366.6k
- Investments
- $139.2k
- Employees
- 1
- Location
- Huntington Beach, CA
- Founding
- 01/1985
- Data as of
- 12/2022
- EIN
- 33-0861387
Organization Overview
American Opportunity Foundation is located in Huntington Beach, CA. The organization was established in 1985. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. American Opportunity Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, American Opportunity Foundation generated $366.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $415.8k during the year ending 12/2022. While expenses have increased by 0.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, REHABILITATE, RENT AND SELL AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY, AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES ARE REHABILITATED AND LEASED TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME, ELDERLY AND/OR MENTALLY OR PHYSICALLY CHALLENGED PERSONS OR FAMILIES.
OPERATION OF TWO APARTMENT BUILDINGS FOR LOW INCOME TENANTS.
TO PROVIDE ELEVEN AFFORDABLE RENTAL UNITS TO LOW-INCOME AND VERY LOW-INCOME SENIORS IN ALHAMBRA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Do-Khanh Trustee | Trustee | 0.2 | $0 |
San Pham Trustee | Trustee | 0.2 | $0 |
Cynthia Grady Trustee | Trustee | 0.2 | $0 |
Kathryn T Walker President, Trustee | OfficerTrustee | 3 | $0 |
Brett Mascaro Senior Vp, Trustee | OfficerTrustee | 1 | $0 |
Ajay Nayer Vice President | Officer | 40 | $132,044 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $366,253 |
| Investment income | $316 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $366,569 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,549 |
| Compensation of current officers, directors, key employees. | $15,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,258 |
| Fees for services: Management | $40,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,857 |
| Information technology | $4,197 |
| Royalties | $0 |
| Occupancy | $5,434 |
| Travel | $84 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $73 |
| Interest | $11,905 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,869 |
| Insurance | $435 |
| All other expenses | $636 |
| Total functional expenses | $415,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $271,252 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,869 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,848 |
| Net Land, buildings, and equipment | $1,836,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $139,179 |
| Investments—program-related | $0 |
| Intangible assets | $3,482 |
| Other assets | $0 |
| Total assets | $2,278,391 |
| Accounts payable and accrued expenses | $57,700 |
| Grants payable | $0 |
| Deferred revenue | $608 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,681,801 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,390 |
| Total liabilities | $2,751,499 |
| Net assets without donor restrictions | -$473,108 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,278,391 |